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USDCNH: Low bit uplink
2022-11-17
1114
Fundamental analysis:
The exchange rate between the US dollar and the RMB remained volatile at 7.10697. The State Administration of Foreign Exchange (SAFE): In October, foreign direct investment capital maintained a net inflow, and foreign investment in the domestic bond market continued to recover.
USD/RMB USDCNH - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the low level narrow amplitude shock, the shock rises, the short-term bulls wait for the opportunity to enter the field and slowly rise, the MACD indicator is in the short position and moves up, and the RSI indicator is in the weak position near the 50 equilibrium line;
Multi empty turning point: 7.10167
Pressing: 7.12853, 7.14928
Support: 7.07725, 7.04954
Trading strategy: 7.10167 upward bullish, target 7.12853, 7.14928
Alternative strategy: 7.10167 bearish, target 7.07725, 7.04954
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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